The factory in the town of Kosice will supply parts for the automotive, electronic and aviation sectors and is expected to start operations in 2018, Fico said at a joint press conference with Minebea after signing the deal in Kosice.Reuters | December 03, 2016, 13:39 IST

Prime Minister Robert FicoBRATISLAVA: Japanese electrical equipment manufacturer Minebea will build a factory in eastern Slovakia, investing nearly 60 million euros ($64 million) and creating more than 1,000 jobs, Prime Minister Robert Fico said on Friday.

The factory in the town of Kosice will supply parts for the automotive, electronic and aviation sectors and is expected to start operations in 2018, Fico said at a joint press conference with Minebea after signing the deal in Kosice.

The plant will employ about 1,000 people in manufacturing and 100 others in research and development, in a region where unemployment stood at 13 percent in October, four points above the national average.

Minebea may expand the investment to 100 million euros and double the workforce within five years, Fico said.

Carmakers such as Volkswagen, Kia and Peugeot have production facilities in Slovakia, a member of the euro zone. Jaguar Land Rover said on Tuesday that it will build its next-generation Discovery sport utility vehicle at a plant it is due to open in Slovakia in 2018. ($1 = 0.9395 euros)